Wan Hai Lines retains slim profit in Q1

Taiwan’s Wan Hai Lines has managed a slim first quarter profit after seeing the gain plunged from the year-ago period, and revenue fell as well.

Wan Hai’s first quarter net profit attributable to owners of the parents was registered at TWD43m ($1.32m), down sharply from the gain of TWD2.07bn in the same period of 2015.

Revenue for the quarter ended 31 March 2016 was reported at TWD14.05bn, a drop of 18.1% from TWD17.16bn in the previous corresponding period.

The largely intra-Asia container carrier reduced its first quarter operating cost to TWD12.82bn from TWD13.73bn previously.

Posted 16 May 2016

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Lee Hong Liang

Asia Correspondent

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